A positive financial performance in the first half of 2018 has enabled Ecclesiastical, the fourth largest corporate donor in the UK, to give a further £5million to good causes.
After an exceptional performance in 2017, underpinned by strong performance of global equity markets, Ecclesiastical’s H1 performance was in line with expectations, with the company posting a profit before tax of £19.4 million, well down on the same period last year (H1 2017: £42.2 million) in the six months to June 30. However, the results were boosted by a four per cent increase in gross written premiums (GWP) year-on-year – up from £166.0m to £172.7m.
The company continues to see growth in Art and Private Client, Charity, Heritage and Schemes business and has ambitious plans for the future.
The company celebrated a number of successes in the first half of 2018 including continued external awards recognition of the Group, continued investment in its Art & Private Client capability, with a number of new appointments made and systems enhancements in plan. Successfully developed new relationships in the Schemes market and a new three-year partnership announced with The Prince’s Foundation to support master craft skills to help preserve and protect churches and historic buildings across the UK
Mark Hews, Group Chief Executive Officer of Ecclesiastical, said: “I am delighted to be announcing that a further £5 million will be donated to charity following our financial performance in 2018. This is a major personal milestone for me as it means that we have now donated over £100 million to charitable causes since I took the role of CEO just over five years ago. Alongside this, we have provided financial support directly to a number of programmes and projects with key partners including The Prince’s Foundation, Historic England, and children’s charity Coram.
“Ecclesiastical is unlike any other financial services group – we are a commercial company with a wholly charitable purpose and one of the top five corporate donors in the UK. On behalf of the thousands of beneficiaries worldwide I would like to thank all our customers, brokers, business partners, colleagues and supporters. Together we are transforming people’s lives for the better.
“The achievement is made all the more special through independent feedback from the UK’s home insurance customers that recognised Ecclesiastical once again as the most trusted insurer in the UK ahead of all other insurers.
“Our ambition is that, together, we can build a movement for good and champion a more caring, ethical and trusted way of doing business.”